A preexisting duty can arise from a person's job or position or it can arise out of an existing
contract.
Indicate whether the statement is true or false
TRUE
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Current accounting standards indicate that the costs of intangible assets with an indefinite life, such as goodwill, should
a. not be amortized. b. be reported on the statement of retained earnings in the year in which acquired. c. be amortized over a reasonable period of time not to exceed 40 years. d. increase an expense account entirely in the year in which acquired.
Perry Inc.'s bonds currently sell for $1,150. They have a 6-year maturity, an annual coupon of $85, and a par value of $1,000. What is their current yield?
A. 7.39% B. 7.76% C. 8.15% D. 8.56% E. 8.98%
Which of the following is a good indicator of management's strong commitment to product quality?
a. Product recalls increased as a percentage of sales b. Nonconformance costs increased as a percentage of total quality costs c. Customer service costs reduced by 70 percent over the previous year d. High costs of conformance to quality
Communicating Concisely Using A Positive Language Tom is the general manager at Glorious Solutions, a content development company. He was impressed with Stephanie's work and considered promoting her to the position of team leader. To judge her
leadership qualities, Tom decided to ask Stephanie to handle a sensitive issue at work and see how she performs. Tom wanted her to handle the case of Alan, a proofreader in the same company, who was on uninformed leave for two weeks. He asked Stephanie to send an email issuing Alan an ultimatum. Stephanie was not used to such situations and did not know how to handle it. She sought James's help. James is a team leader at Enumerations Corp, a multinational corporation, and a close friend of Stephanie. Being a team leader, James is used to handling such sensitive issues in a constructive manner. Discuss in detail the suggestions James made to Stephanie to reduce the sting from the sensitive message.